Gold climbs Rs 200 on jewellers' buying; silver also firms up

New Delhi-India (May 24)  Gold prices on Friday rose by Rs 200 to Rs 32,870 per 10 gram in the national capital on the back of fresh buying from local jewellers, according to the All India Sarafa Association.

Tracking gold, silver also gained by Rs 150 to Rs 37,550 per kg on increased offtake by industrial units and coin makers.

 Traders attributed the rise in gold prices to a pick-up in demand from local jewellers in the domestic market but said a weak trend overseas capped the gains.

Globally, spot gold was trading lower at USD 1,281.70 an ounce, while silver was down at USD 14.61 an ounce in New York.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained by Rs 200 each to Rs 32,870 and Rs 32,700 per 10 gram, respectively.

Sovereign gold, however, held steady at Rs 26,500 per eight gram.

Silver ready rose by Rs 150 to Rs 37,550 per kg, while weekly-based delivery was up by Rs 316 to Rs 36,550 per kg.

On the other hand, silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

TheAsianAge